CWC, which focuses on the Caribbean, Macau and Panama, split from the former Cable & Wireless group, now Cable & Wireless Worldwide (CWW), earlier this year.
It said yesterday the Caribbean had faced its most difficult economic conditions in a generation and said it was still cautious on its outlook but the second half performance had come in line with the first.
Overall C&W Comms reported full-year revenue of £1.62bn, just short of the consensus market forecast of £1.65bn. Ebitda and exceptionals was $908 (£628m) but after taking out costs for the Central business ebitda was $866m.
Chief financial officer Tim Pennington told City A.M.: “This is a time to be cautious. Our results are reasonable in the context of other telco firms.
“Revenues have dropped a touch but we expect them to hold in the next year. Ebitda is up despite real pressure, which makes for a decent performance.”
CWW reported losses of £94m yesterday, prompted by £210m of exceptional items, including £143m stemming from the recognition of the deficit in its defined benefit pension scheme and £13m of demerger-related costs.